With real estate prices increasing yearly, many people are forced to find affordable housing options. Unfortunately, renting an apartment has become unsustainable for some people, especially older adults. Mobile homes are one of your most affordable alternatives if you’re looking for houses for rent in Rancho Cordova.
Mobile homes (or manufactured homes) are factory-built houses built on a chassis. They are meant to be installed semi-permanently or permanently on private land or mobile home parks. Thanks to their cost-efficient construction, they are significantly more affordable than traditional houses.
If you’re looking for mobile homes for sale in Sacramento, Mobil Country Club is a senior community in the Gold River neighborhood. Call us today at (916) 635-6166 to learn more about our modern and tranquil community that’s perfect for older adults.
In this blog, we’ll highlight the difference between owning a mobile home vs. renting an apartment. With this, we hope we can help you decide which is the best housing solution for you.
Mobile homes vs. apartments: which is more affordable?
The upfront costs of renting an apartment are lower compared to buying a mobile home. That is true even if you account for the apartment’s application fee, security deposit and other miscellaneous expenses.
If you’re buying a mobile home in Sacramento, you’ll need to pay a down payment and several closing expenses. The overall amount you’ll need to produce initially is significantly higher.
However, despite its steep upfront costs, buying a mobile home is much more affordable in the long run compared to renting an apartment.
The average rent for a one-bedroom apartment is $1,770 per month. Prices vary based on location, but the trend is apartment rent keeps rising every year. You can also expect a considerable price bump if you’re looking for a bigger unit.
Compare that to the average monthly payment for a mobile home at $800 per month (for a $100,000 loan payable in 20 years).
Mobile homes are usually installed in parks that charge monthly fees. But even if you add land rental costs, owning a mobile home is considerably cheaper than renting an apartment.
Enjoy equity by investing in mobile homes in Sacramento
Besides the lower monthly payments of mobile homes, owning one has an additional benefit — you get to build equity.
If you’re only renting an apartment, you pay your landlord monthly, and that’s it. You don’t get to build equity or invest in a property that belongs to you.
Meanwhile, paying your mobile home mortgage not only puts a roof above your head, it also allows you to build equity from your property. By maintaining your manufactured home, you’ll increase its value. You can then use that equity to get a loan for investment and other purposes.
Remember, you’ll need to care for and improve your mobile home while repaying your mortgage to take advantage of its equity. Fixing your unit to a permanent foundation and installing insulation are some of the things you can do to increase the value of your mobile home.
Building equity is a great advantage you can enjoy if you choose to own a mobile home over renting an apartment.
Get a bigger living space with mobile homes
When comparing mobile homes vs. apartments, the latter offers more space for your money.
On average, a double-wide mobile home unit is 2,700 sq. ft. With that area, you can install three bedrooms, two bathrooms, a kitchen, a utility room, a deck and a foyer.
Meanwhile, an apartment has an average size of 900 sq. ft. You’ll have to pay a higher rent if you want a bigger unit. And with increasing rent costs, you’re getting less space for your money by choosing an apartment.
Enjoy peace in senior mobile home parks in Sacramento
Apartment units are contained in a building where tenants share walls, floors and ceilings. As such, you get little privacy if you choose this route. Not only would you pick up the noise from your neighbors, there’s also a high chance that they’ll hear your activities from your personal space.
Meanwhile, you get to enjoy your own privacy with mobile homes. You won’t have to share spaces with your next-door neighbor. Instead, you’ll have your own parcel of land for yourself and have the ability to build a deck or yard. You can even customize or decorate your unit in whatever way you want.
Getting peace and quiet is extremely valuable if you’re an older adult. You get uninterrupted sleep and the opportunity to enjoy your hobbies without your neighbors inadvertently disturbing your solitude.
Aside from that, living in a mobile home community lets you enjoy opportunities for socialization with your fellow residents. This is because mobile home parks in Sacramento feature modern amenities such as pools, clubhouses and picnic areas where neighbors can hang out and spend time together.
Check out senior mobile home parks in Sacramento
Mobile homes feature affordable monthly payments, offer equity and allow owners to enjoy peace and quiet. If you’re choosing between mobile homes vs. apartments, going with the former is an easy decision to make. Nonetheless, your preferences and situation will determine your best housing option.
For older adults who are looking for mobile homes for sale in Sacramento, Mobil Country Club is here to help you. We’re a senior community in the Gold River neighborhood, just a drive away from the beautiful American River Parkway, Lake Natomas and Folsom Lake.
We offer the perfect mix of serenity and convenience for our senior residents. Call us at (916) 635-6166 or fill out this form to know more.